Pakistan’s Finance Minister Hafeez Shaikh presented the Financial Budget 2011-12 in the National Assembly for approval. Shaikh said that the General Sales Tax (GST) has been reduced from 17 percent to 16 percent.
He said that 2.3 million people are to be brought into the tax net. He further added that all special excise duties are to be abolished. Hafeez Shaikh said that more than 71,000 people in the country have been issued tax notices. He also said that those who are earning Rs 350, 000 will now give tax, previously it was Rs 300,000.